KLA (NASDAQ:KLAC) Price Target Raised to $700.00

KLA (NASDAQ:KLAC) had its target price increased by TD Cowen from $650.00 to $700.00 in a research note released on Friday, MarketBeat reports. They currently have a hold rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald boosted their target price on shares of KLA from $625.00 to $800.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Bank of America raised their price objective on shares of KLA from $740.00 to $850.00 and gave the company a buy rating in a research report on Thursday, March 14th. Evercore ISI assumed coverage on KLA in a research report on Tuesday, April 16th. They set an outperform rating and a $800.00 price objective for the company. Susquehanna restated a neutral rating and set a $675.00 price objective on shares of KLA in a research report on Monday, April 1st. Finally, UBS Group lifted their target price on shares of KLA from $605.00 to $760.00 and gave the stock a neutral rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $722.26.

KLA Trading Up 1.1 %

Shares of KLA stock opened at $713.93 on Friday. The stock has a market cap of $96.54 billion, a P/E ratio of 37.40, a P/E/G ratio of 3.52 and a beta of 1.34. The stock’s 50 day simple moving average is $686.46 and its 200-day simple moving average is $603.00. KLA has a 1-year low of $369.66 and a 1-year high of $729.15. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.14 and a quick ratio of 1.46.

KLA (NASDAQ:KLAC) last released its quarterly earnings results on Thursday, April 25th. The semiconductor company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.94 by $0.32. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. KLA had a net margin of 27.19% and a return on equity of 102.37%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.49 EPS. Analysts predict that KLA will post 22.61 EPS for the current fiscal year.

KLA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $1.45 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.80 dividend on an annualized basis and a yield of 0.81%. KLA’s dividend payout ratio is currently 30.38%.

Insiders Place Their Bets

In other news, CFO Bren D. Higgins sold 7,018 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total value of $4,947,970.72. Following the sale, the chief financial officer now owns 32,375 shares in the company, valued at approximately $22,825,670. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Bren D. Higgins sold 7,018 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $705.04, for a total transaction of $4,947,970.72. Following the completion of the sale, the chief financial officer now owns 32,375 shares of the company’s stock, valued at approximately $22,825,670. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Oreste Donzella sold 3,257 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $697.85, for a total transaction of $2,272,897.45. Following the sale, the executive vice president now directly owns 16,922 shares of the company’s stock, valued at approximately $11,809,017.70. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in KLA during the fourth quarter valued at approximately $25,000. Frazier Financial Advisors LLC acquired a new position in shares of KLA during the 4th quarter worth $26,000. DSM Capital Partners LLC acquired a new position in shares of KLA during the 4th quarter worth $28,000. Addison Advisors LLC acquired a new position in shares of KLA during the 4th quarter worth $29,000. Finally, Operose Advisors LLC acquired a new position in KLA in the 3rd quarter valued at $26,000. 86.65% of the stock is currently owned by institutional investors.

About KLA

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.